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Speaking about the new venture, Matrix Reloaded star Pinkett-Smith says, "This show will comb the world to find a new breed of talent."

And reality show veteran Cowell, who has been developing the series for over a year with his production team at SYCO Entertainment, admits he's thrilled to work with the multi-talented beauty: "As soon as I met Jada and Miguel (her associate)... I knew they would be our ideal partners..."

"DJs are the new rock stars. It feels like the right time to make this show."

The program has yet to be given a name or premiere date, but will air in both the U.S. and the U.K.